Toyota, Suzuki cut car prices by up to Rs1 million (Check updated rates here)

LAHORE – Toyota Indus Motor Company, and Pak Suzuki Motor Company have decreased the prices of their vehicles after a sharp recovery of the Pakistani rupee against US dollar.

Despite the huge price cuts, the booking for new vehicles still remains suspended as the company is facing disruption in its production due to constraints on approval of Letter of Credit (LCs) from the central bank for the import of CKD kits.

The revised prices for Toyota models:

The revised prices for Suzuki models:

Toyota announced updated prices, days after the Pakistan Automotive Manufacturers Association reported the sales figures for the month of July with Toyota recording a 62 percent sales decline.

The company also responded after updating its prices, saying the Pakistani currency has appreciated against the US dollar, and it has made it possible for IMC to pass on the favorable forex impact to its customers.

It also added that prices are subject to change and prices prevailing at the time of delivery shall continue to remain applicable on all future orders.

Meanwhile, Pak Suzuki stated that “the rates are subject to change without any prior notice and prices at the time of delivery shall apply”. Any government taxes and levies applicable at the time of delivery shall be borne by the customers, it said in a recent notification.